FSL Appoints New Independent Director

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), has announced the appointment of Michael J. Oliver to its Board of Directors.

Mr. Oliver has more than 40 years of international experience in the banking and financial services industry. He joined the London Branch of Commerzbank AG in 1986 and served as its Regional Board Member for Asia Pacific in Singapore from 2001 to 2005 before his retirement. As Regional CEO, he was responsible for Commerzbank branches in Hong Kong, Shanghai, Singapore and Tokyo as well as its merchant banking subsidiaries and corporate banking business in the Asia Pacific Region.

Before joining Commerzbank, Mr. Oliver was with First National Bank of Boston for 18 years, holding a variety of commercial banking and corporate finance positions in the U.S., Australia and Europe. He is a member of the Hong Kong court-appointed Committee of Inspection relating to the insolvency of Peregrine Fixed Income Ltd. since 1998.

The appointment was made by FSL Holdings Pte. Ltd., the substantial shareholder of the Trustee-Manager, through FSL Asset Management Pte. Ltd.

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